Delhi-NCR leads Tier-1 cities in crypto adoption, Bengaluru, Mumbai follows: Survey

Crypto investment trends: Tier-1 cities are at forefront of crypto option, with Delhi-NCR leing pack in terms of total number of crypto investors, according to a survey conducted by Mudrex, a crypto investment platform. Bengaluru, Mumbai, Hyderab, Chennai, Kolkata, Pune, Lucknow, and Ahmedab are or leing cities that invest in cryptocurrencies.

survey identifies several contributing factors to this trend, including constantly improving digital infrastructure, widespre internet accessibility, increasing financial literacy, investment inclination, and pursuit of higher returns.

survey reveals that 69 per cent of crypto investors are male, while 29 per cent are female, with 2 per cent choosing not to disclose ir gender. Within age group of 20-30, approximately 63.06 per cent have opted to invest in crypto assets, with a grual decrease in investment participation observed in older age brackets.

Startups dominate crypto investments

According to survey, startups emerge as sector with highest percentage of crypto investors, with 56.91 per cent of individuals working in startups engaging in crypto investments. Interestingly, re is minimal disparity among high-income, mid-income, and low-income investors, with even those earning less than 5 lakh per annum entering crypto space.

survey indicates that 58.5 per cent of investors have diversified ir portfolios by investing in both equities (stocks & mutual funds) and crypto. Moreover, nearly 59.8 per cent of respondents prefer making financial decisions independently, with only 5.7 per cent relying on financial visors. Among crypto-invested users, 70 per cent make autonomous financial decisions.

A major portion (45 per cent) of users with retirement plans have allocated funds to cryptocurrencies, reflecting a growing acceptance of crypto as a legitimate asset class. ditionally, 50 per cent of respondents foresee cryptocurrency becoming mainstream within next 5 years.

When asked about ir motivations for investing, 63 per cent of respondents cited wealth growth, with 72 per cent of crypto-invested respondents sharing same motivator.